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DAX has halted its 10 day of weakness and shown a more than 3% jump from low of 11839. The weakness was mainly due to renewed trade tension between US and China. US President Trump has delayed auto tariff on European car and optimistic tweet by Trump on US-Sino trade talks is supporting global market. The index hits high of 12203 and is currently trading around 12178.
On the higher side, near term resistance is around 12220 and any violation above targets 12300/12350.
The major support on the lower side is around 11839 low made on May 13th and any violation below 11800 confirms bearish continuation and a dip till 11672/11500 likely.
It is good to buy on dips around 12000-050 with SL around 11800 for the TP of 12350.
